Cisco Systems "neutral," target price reduced

06.08.08 - Robert W. Baird

NEW YORK, August 6 (newratings.com) - Analysts at Robert W Baird maintain their "neutral" rating on Cisco Systems Inc (CSCO), while reducing their estimates for the company. The target price has been reduced from $27 to $26.

In a research note published this morning, the analysts mention that the company has reported its F4Q revenues and EPS ahead of the estimates. Cisco Systems? guidance for F1Q implies revenues of $10.32 billion and EPS of $0.39, short of the consensus, the analysts say. The company did not provide guidance for FY09 on account of limited visibility, Robert W Baird adds. The EPS estimate for FY09 has been reduced from $1.68 to $1.62.